Key Takeaways
- • Resolution No. 79-NQ/TW of the Politburo, dated January 6, 2026, sets a goal of having at least three state-owned commercial banks among the top 100 largest banks in Asia by total assets by 2030, alongside developing four leading banks in technology and management capacity.
- • Party General Secretary To Lam stated at a February 25, 2026 national conference that "the leading role must be proven by leadership capacity, effectiveness, and substantial contributions."
- • As of December 31, 2025, BIDV reported consolidated total assets of VND 3,330,826 billion, VietinBank VND 2,767,699 billion, Vietcombank VND 2,442,279 billion, and Agribank nearly VND 2.7 million billion (over USD 100 billion), according to each bank's 2025 annual report.
- • Agribank's 2025 annual report shows credit to agriculture and rural sectors ("three rural issues") above 64% of total outstanding loans, which the article argues cannot be judged by the same metrics as a purely urban retail lender.
- • The article identifies the main obstacle to the 2030 target as lagging mechanisms for evaluating and managing state capital, and calls for separate accounting of commercial and policy tasks.
Summary
Vietnam.vn's Part 1 analysis examines Resolution No. 79-NQ/TW of the Politburo, dated January 6, 2026, on the development of the state-owned economy. The resolution sets a benchmark for state-owned commercial banks to have at least three institutions among the top 100 largest banks in Asia by total assets by 2030, while also developing four leading banks in technology and management capacity. The article notes that the objectives are distinct and should be analyzed separately rather than grouped into a single set of indicators.
The article contrasts this forward-looking mandate with the historical role of state banks, which were typically assigned situational tasks such as curbing inflation, stabilizing exchange rates and liquidity, providing interest rate subsidies, and extending debt relief after natural disasters. It argues that such short-term approaches are unlikely to build the capital buffers and modern governance needed to compete in international markets. General Secretary To Lam, speaking at the National Conference on February 25, 2026, said that the leading role "must be proven by leadership capacity, effectiveness, and substantial contributions."
On scale, the article cites 2025 annual reports showing BIDV, VietinBank, Vietcombank and Agribank with total assets ranging from roughly USD 100 billion to over VND 3.3 million billion. The article notes that the top-100 Asia threshold shifts with each ranking, annual cycle and exchange rate, so the target must be monitored continuously. Resolution 79 also calls for continued increases in charter capital to strengthen capital adequacy and operational efficiency, along with more non-interest income, digitalization and balance sheet clean-up.
The article identifies an institutional challenge: conventional commercial metrics may not fit banks that also carry social-welfare mandates. Agribank's concentration of credit in agriculture and rural areas is cited as an example. Resolution 79 accordingly calls for separating production and business accounting from political, defense, security and non-profit tasks. The article says the next installment will examine the separate-accounting proposal and the protection of officials who take responsibility for innovation under Resolution No. 24-NQ/TW and Regulation No. 220-QĐ/TW.
The article contrasts this forward-looking mandate with the historical role of state banks, which were typically assigned situational tasks such as curbing inflation, stabilizing exchange rates and liquidity, providing interest rate subsidies, and extending debt relief after natural disasters. It argues that such short-term approaches are unlikely to build the capital buffers and modern governance needed to compete in international markets. General Secretary To Lam, speaking at the National Conference on February 25, 2026, said that the leading role "must be proven by leadership capacity, effectiveness, and substantial contributions."
On scale, the article cites 2025 annual reports showing BIDV, VietinBank, Vietcombank and Agribank with total assets ranging from roughly USD 100 billion to over VND 3.3 million billion. The article notes that the top-100 Asia threshold shifts with each ranking, annual cycle and exchange rate, so the target must be monitored continuously. Resolution 79 also calls for continued increases in charter capital to strengthen capital adequacy and operational efficiency, along with more non-interest income, digitalization and balance sheet clean-up.
The article identifies an institutional challenge: conventional commercial metrics may not fit banks that also carry social-welfare mandates. Agribank's concentration of credit in agriculture and rural areas is cited as an example. Resolution 79 accordingly calls for separating production and business accounting from political, defense, security and non-profit tasks. The article says the next installment will examine the separate-accounting proposal and the protection of officials who take responsibility for innovation under Resolution No. 24-NQ/TW and Regulation No. 220-QĐ/TW.
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